The Life Insurance Corp of India (LIC) has raised stake by 2 percent in Oil India Ltd through open market acquisition.

According stock market data, LIC purchased 1.22 crore shares or 2.04 percent of equity capital for raising its stake in the company to 7.045 percent.

The additional shares has been bought by it between August 25, 2015 and March 16, 2016 for Rs 601.14 crore.

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